Elliott Wave Full Fractal System Clean

Elliott Wave: Full Fractal System (Automated)

This script is a complete Fractal Trading System that automates Elliott Wave analysis. It moves beyond simple wave counting by combining multi-degree wave detection (Primary, Intermediate, Minor) with an automated "Sniper" entry strategy based on high-probability Wave 4 pullbacks.
1. Idea of the Script This tool acts as an educational Elliott Wave assistant that automatically:

• Detects Swings: Uses a pivot engine (ZigZag-like logic) to identify key market structure.
  
  • Identifies Impulses: Scans for valid 1–5 motive waves across multiple timeframes.
  • Visualizes Corrections: Detects and labels A-B-C corrective phases after an impulse.
  • Executes Strategy: Adds a strategy layer on the Intermediate degree to backtest optimal entry zones.
  
  2. How it Works: The "Fractal Sniper" Strategy The script applies strict algorithmic logic to Elliott Wave Theory. It analyzes the Intermediate (Green) degree to generate signals:
  
  • Step 1: The Setup (Wave 3 Identification) The script scans for a valid Wave 3 impulse. It ensures Wave 3 is not the shortest and the structure respects fractal rules.
  • Step 2: The "Wait" Phase (Target Zone) Once Wave 3 is confirmed, the script projects a Box (Green for Long, Red for Short). You will see a label: WAIT FOR DIP. Logic: We wait for price to retrace to the 50% Fibonacci level (The Golden Zone). We do not chase the top of Wave 3.
  • Step 3: The Trigger ("Sniper" Entry) A trade is triggered only when price touches the specific entry zone while maintaining structure. Signal: Sniper Long 🚀 or Sniper Short 🔻.
  • Step 4: Automated Risk Management
  • Stop Loss (SL): Placed at the extremum of Wave 1 (Theory: Wave 4 cannot overlap Wave 1).
  • Take Profit (TP): Placed at the 1.618 Fibonacci Extension of Wave 5.
  
  3. 📊 Visual Legend (Fractal Degrees) The script analyzes three timeframes simultaneously. Use this guide to read the chart:
  
  • 🔵 Blue (Primary Degree): Macro Trend. Marked with Circles (①, ②...). Use this for overall market bias.
  • 🟢 Green (Intermediate Degree): The Trading Layer. Marked with Parentheses ((1), (2)...). All Strategy Signals are generated from this degree.
  • 🔴 Red (Minor Degree): Micro Structure. Marked with Roman Numerals (i, ii...). Useful for seeing the sub-waves inside larger moves.
  
  4. 📉 A-B-C Corrections (Visual Only) The script automatically detects and labels corrective phases (A, B, C) following a 5-wave impulse.
  Function: These labels indicate that the trend is correcting or resting.
  Note: The "Strategy" (Buy/Sell logic) ignores these A-B-C labels. It sees the correction and draws it for your awareness, but it does not risk money on counter-trend moves.
  5. ⚠️ CRITICAL NOTE ON BACKTESTING & LAG This strategy uses ta.pivothigh and ta.pivotlow to identify wave structures.
  The Lag: Pivot points are lagging indicators. A pivot is only mathematically confirmed X bars after the peak or valley has occurred.
  The Backtest: While the labels are drawn historically on the correct bars, the strategy logic strictly waits for the pivot confirmation before generating a signal. This prevents "repainting" in live trading, but users must understand that the signal occurs after the pivot is locked in.
  6. Settings Included
  • Degrees: Customizable lookback lengths for Primary, Intermediate, and Minor waves.
  • Strict Rules: Toggle to enforce standard Elliott rules (e.g., No Overlap).
  • Realistic Simulation: Commission and slippage are enabled in the strategy settings to provide realistic results.
  Disclaimer: This script is for educational and research purposes only. It applies strict algorithmic logic to Elliott Wave Theory, but wave counting is inherently subjective. Past performance does not guarantee future results.